An investment project in the Astir Palace Hotel Vouliagmeni is progressing as planned, with the official opening of the new hotel complex expected during spring 2018, a company official told the Athens-Macedonian News Agency (ANA) on Tuesday.
The Astir Palace Vouliagmeni, under its new ownership, will not make any announcement regarding the arrest of Saudi Prince Alwaleed bin Talal, the official noted.
He also pointed out that the company΄s previous announcement was still valid. This noted that Astir Vouliagmeni will become the first “Four Seasons” hotel in Greece and stated that the arrested Saudi prince has no equity participation in a joint venture controlling the hotel complex, and that his only connection with the project is through Four Seasons, the manager of the hotel. Astir Palace Vouliagmeni is under the control of the joint venture AGC Equity Partners, comprised of Jermyn Street Real Estate Fund IV LP (Jermyn Street) and Apollo Investment Holdco Sarl (Apollo) – with shareholders that include two state funds from Abu Dhabi and Kuwait, Arab investors and the Turkish Dogus Group.
The project to upgrade the hotel complex in Vouliagmeni and its reopening under the name Four Seasons Astir Palace Hotel Athens will surpass 100 million euros. The new hotel will have around 300 rooms, suites and luxury bungalows, spa facilities and modern conference and event halls.
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Source: capital.gr
